Western Midstream Partners (NYSE:WES) Announces Quarterly Earnings Results

Western Midstream Partners (NYSE:WES) announced its quarterly earnings data on Wednesday. The pipeline company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62, Briefing.com reports. The company had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. Western Midstream Partners’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS.

Western Midstream Partners Stock Performance

WES traded up $0.74 during trading on Thursday, reaching $36.24. 796,002 shares of the company were exchanged, compared to its average volume of 1,238,859. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.40. The stock has a market cap of $13.79 billion, a P/E ratio of 13.91 and a beta of 2.82. Western Midstream Partners has a 52 week low of $25.04 and a 52 week high of $36.79. The firm has a 50 day moving average of $34.96 and a 200 day moving average of $30.86.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.66%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date is Tuesday, April 30th. Western Midstream Partners’s dividend payout ratio is presently 134.62%.

Insider Activity

In other news, Director Kenneth F. Owen bought 7,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the transaction, the director now owns 32,730 shares in the company, valued at $1,111,510.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth F. Owen bought 7,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares in the company, valued at $1,111,510.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup downgraded shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Thursday, February 29th. Wolfe Research raised Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. Mizuho raised their price target on Western Midstream Partners from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on shares of Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $31.09.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.